Plan for the future? Some of us are so busy enjoying today that future plans are not exactly top-of-mind. And some are so busy planning for the future they forget to enjoy today.
How does this dilemma play out in your financial life? Do you sacrifice your comfort and pleasure today for protecting your future? Or, do you believe it is more important to enjoy life today and worry about the future when it comes?
One thing is for sure… it’s never too early to begin saving. Even if you have to start small, ‘something’ is generally better than ‘nothing’. Try saving a set amount each pay period in a special savings account. When you have built up a little savings, think about opening a new savings or certificate product at the Credit Union and watch your money work for you!
Similarly, it’s never too late to start saving. According to a report by Bankrate.com, 26% of Americans do not have an emergency savings (at least 6 months of expenses) or a plan to have one. If you haven’t been in a position to save and find yourself in need of an emergency fund or nearing an important (aka expensive) event, like a wedding, vacation, medical expense or even retirement, rethink your budget and start today. See how much you can realistically allocate to savings–you might be surprised!
Pro Tip: Automatic transfers make it easy and painless!
The Best of Both Worlds
While you may have to make some sacrifices to secure a sound financial future, it shouldn’t mean you have to give up all or even most things that bring you joy. There are plenty of inexpensive entertainment options that might not even feel like a trade-off. For instance, try replacing an expensive weekend out with friends and family for a homegrown potluck or BBQ. You set the rules!
So, tell us… Live in the moment or plan for the future? Share your take with us in the comments!
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